As the world waits breathlessly for the Federal Reserve to render a decision on interest rates, it’s probably a good time to look back to when things really did cause you to stop breathing for a second. That would be the Great Recession when it kicked in during the fall of 2008. On a recent… Read More >>
Industry Vet to Lead NRI India Expansion
Nomura Research Institute, Ltd., a provider of consulting services and system solutions, reports that its NRI Financial Technologies India Pvt. Ltd (NRI FinTech) is establishing a new Mumbai-based group, which will be headed by Dr. Chiragra Chakrabarty. Chakrabarty, who has “more than 15 years of experience providing consultancy services for market development, financial and commodity… Read More >>
Prime Brokers and Custodians Bury the Hatchet
Following a rocky courtship just after the financial crisis, prime brokers and custodian banks have now settled into a comfortable – if not quite loving – marriage of convenience as both sides aim to please hedge fund clients, sources say. “In the beginning, there was definitely a lot of competition between the custodian banks and… Read More >>
Lehman Bros. Creditors to Get $4.6B Distribution
The first distribution of funds to unsecured general creditors of failed investment bank Lehman Brothers will release $4.6 billion, starting “on or about September 10,” a development commended by the Securities Investor Protection Corporation (SIPC) in a statement. The first round represents 17 percent of the total claims still held by general unsecured creditors, according… Read More >>
Good News from the Global LEI Front
Rarely am I enthusiastic about bureaucratic standards-building processes. But a recent task force report gives me hope that international support for a system of legal entity identifiers (LEIs) is real and will help bring to fruition a key reform for over-the-counter (OTC) derivatives. Of course, this isn’t the sexy reform that grabs the headlines, but… Read More >>
